BlackRock is applying to launch the new iShares Bitcoin (BITA) fund, which offers annual returns – does this conflict with Islamic law?

How does the fund work?
The fund will gain exposure to #بيتكوين via BlackRock's IBIT fund. Then, it will regularly sell call options on these positions. The goal is to generate income from the premiums received from selling these options.
This income is then distributed to investors.
In other words: exposure to Bitcoin + regular income.
However, there is a cap on profits if the price rises sharply.
How does this affect the market?
In a sideways or sluggish rising market, regular income is generated.
In a strong and rapid upward movement, some potential profits are canceled out.
This strategy is known as covered call writing, which is common in equity funds, but is now being applied to Bitcoin by the world's largest asset manager.
It is noted that the IBIT fund holds about $70 billion worth of Bitcoin, while BITA serves as an additional investment layer on top of this product.
So far:
Fees have not been announced.
The launch date has not been specified.
However, Bloomberg analyst Eric Balchunas expects the fees to be around 0.38%.
Shariah considerations
From an Islamic finance perspective, there are potential concerns regarding the sale of call options on Bitcoin because of the presence of excessive gharar (The contract is based on an uncertain future event)
There is also a suspicion of maysir (The buyer of the option pays a premium that is entirely lost if the price does not rise, which is similar to gambling or betting$BTC $BTC #GateSquareAprilPostingChallenge #MarchNonfarmPayrollsIncoming #CryptoMarketSeesVolatility